What is E-Vault?
An E-Vault is an electronic storage facility that is used to archive important documents. This facility allows our clients to have uninterrupted, electronic access to their transactional STBB and personal documents that are safely stored in their E-Vaults forever. This vault will eliminate the risk of losing important information and create a central storage facility for important documents.
An important benefit of this vault is that it will assist our clients in reducing their liability to Capital Gains Tax. (link) This will be accomplished by clients uploading all qualifying expenses, as they are incurred, into a file within their vault specifically created for this purpose named ‘CGT Improvements’. Record of these expenses will then be stored until the property is disposed to be utilised in the determination of the base cost of the property. Without the evidentiary proof of the qualifying expenses SARS are not inclined to allow the deduction of these expenses resulting in a greater liability for tax. This risk will however be eliminated by the records safely stored in their vaults.
E-Vault user guides
What to upload to your E-Vault?
Your E-Vault is a multifunctional tool that can be utilised to store your private documents as well as your transactional documents pertaining to your property related matters. The following is a non-exhaustive list of typical documents which may be stored in your E-Vault:
• Last will and testament
• Banking records
• Identity document and passport
• Marriage certificate and Ante-nuptial agreements
• Divorce order
• Share Certificates
• Record of qualifying CGT expenses